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GOODWILL AND INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET

NOTE 6: GOODWILL AND INTANGIBLE ASSETS, NET

 

A. Composition:

  

    (*)                     
   Internal-use Software (*)   Customer Relations   Technology   Goodwill   Total 
Cost:                         
Balance as of January 1, 2022   449    7,753    7,757    12,483    28,442 
Adjustments to Ultimate Parent company carrying values (see note 7.B)   -    (1,519)   3,251    4,878    6,610 
Additions   16    -    -    -    16 
Balance as of December 31, 2022   465    6,234    11,008    17,361    35,068 
                          
Accumulated amortization:                         
Balance as of January 1, 2022   -    4,261    3,284    -    7,545 
Adjustments to Ultimate Parent company carrying values (see note 7.B)   -    

(4,457

)   

(3,413

)   -    

(7,870

)
Amortization recognized during the year   122    937    1,660    -    2,719 
Balance as of December 31, 2022   122    741    1,531    -    2,394 
                          
Amortized cost:                         
As of December 31, 2022   343    5,493    9,477    17,361    32,674 

 

    (*)                     
   Internal-use Software (*)   Customer Relations   Technology   Goodwill   Total 
Cost:                         
Balance as of January 1, 2021   180    6,080    3,117    2,902    12,279 
                          
Acquisition of Cortex (see note 7.A)   -    1,673    4,640    9,581    15,894 
Additions   269    -    -    -    269 
Balance as of December 31, 2021   449    7,753    7,757    12,483    28,442 
                          
Accumulated amortization:                         
Balance as of January 1, 2021   -    3,274    2,424    -    5,698 
                          
Amortization recognized during the year   -    987    860    -    1,847 
Balance as of December 31, 2021   -    4,261    3,284    -    7,545 
                          
Amortized cost:                         
As of December 31, 2021   449    3,492    4,473    12,483    20,897 

 

  (*) During 2020, Gix Media engaged with a subcontractor for the development of an internal-use software (the “Software”). Gix Media capitalized its developments costs until March 1, 2022 and from this date the Software became available for use. Accordingly, Gix Media recognized amortization expenses over the estimated useful life of the Software determined to be three years. For the period from March 1, 2022, until December 31, 2022, Gix Media recorded amortization expenses of $122.

 

VIEWBIX INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

 

U.S. dollars in thousands (except share data)

 

NOTE 6: GOODWILL AND INTANGIBLE ASSETS, NET (Cont.)

 

B. Estimated annual amortization expense for each of the next five years is as follows:

 

      
2023   2,880 
2024   2,880 
2025   2,758 
2026   2,725 
2027   2,725